There's no question that acquirers with deep pockets will be "seeking firms of scale with ultrahigh-net-worth clients. The Boston Private-Banyan deal is the first of more to come."
David DeVoe, Managing Partner & Founder, DeVoe & Co.
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Summary:The high end of the wealth management market is a very, very good place to be right now. Valuations for advisory firms with over $500 million in assets under management are expected to escalate in the wake of this month's Boston Private Bank and Trust's $60 million acquisition of Banyan Partners -- made at what sources say was a valuation of nine times EBITDA.
There's no question that acquirers with deep pockets will be "seeking firms of scale with ultrahigh-net-worth clients. The Boston Private-Banyan deal is the first of more to come."
David DeVoe, Managing Partner & Founder, DeVoe & Co.
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